will you be taking any extra cash out of your bank

This Greek debt thing has me thinking
I am tempted to head off to my bank and withdraw some extra cash, could this start a global run like a domino effect

I live in Australia so shouldnt be affected by the Greek collapse but i am thinking do i squirrel a few nuts away

Do I read too much ATS and too much steve quayle, or is being cautious wise.

Anyone else considered taking extra money from their banks, just in case

a reply to: borntowatch

Not that I have much to take out of the bank but it has been playing on my mind that this could be the beginning of something bigger.

a reply to: borntowatch

Like a lot of people on here I would suggest doing exactly that. My own safety net is gold and silver. To be honest I haven't got a lot of it but this is due to being at the bottom of the ladder. However I have put away as much as possible. Not as a commodity but as a guarantee of at least some wealth if restrictions are put on cash.
I see a lot saying to hold a lot of cash. But question is what currency. Hmmmm

I am broke, living paycheck to paycheck, so I guess this doesn't apply to me Consider yourself lucky

I will stock up on nonperishable food items and ammunition.

Our cash will be worth next to nothing when the insane inflation happens.

You should always keep some cash out of the bank. Even if the electricity goes out for a period of 24hours...the atms wont work. Also banks are getting really weird about taking out large amounts of money lately. If I had to throw out a number id say id keep 10% of your savings in cash at home. I always have some silver coins too...20 or so coins wouldn't cost too much money and it could be a great barter tool.

If/when society collapses people often think it will collapse so bad that precious metals will be worth nothing more than weight. I think this is wrong and precious metals will play a part at least temporarily. In Argentina they had a collapse and people started bartering with gold/silver. The problem was you cant really cut up a 1 oz gold coin worth 2,000 us dollars. So what ended up happening is people started trading with their jewelry that had silver or gold in it for food and services. So I say to keep some silver as if the dollar completely collapses you will have some "currency" of value that is small enough to barter with on a daily basis to help you out. Also silver is being used more than gold in the real world with electronics and stuff...so silver may someday become the new gold.

I already keep only enough for bills in 'the bank'.

Everything else is split between non perishables, aka food, water, other staples and medicine, and various PM's.


ETA: I had about $9,000 in a major bank savings account about a year ago. We received our statement and got $0.90 interest, that's 90 cents.
Whats the point?

Soon it will cost $ to have anything in a bank.

Well.....I would say look to Puerto Rico in the next little while as an indicator for the US more than Greece. Similar situation is going down there right now and starting to make the news.

a reply to: Vasa Croe

Funny you should say that. Puerto Rico's Governor Padilla calls their debt 'unpayable.'

Geez....

Check out surviving the economic collapse by Fernando aguirre, his experience surviving tge economic collapse of Argentina.

To gain some context on what actually happens when an economy goes belly up.

Why do you think paper would have any value in an economy that has gone bottom up?

a reply to: borntowatch

Well, there's always the chance that something like this can happen in the U.S. and elsewhere, but the reality is that Greek citizens, unless they've been hiding in the entrance to Hades, should have seen this coming and been preparing for it in some way.

The writing was on the wall, staring them in the face.

originally posted by: Krazysh0t
Why do you think paper would have any value in an economy that has gone bottom up?

Greed
I think there will be a transition period where the government allows people to starve and force people to accept what they offer

I dont really know what if anything will happen

This will be the worlds next major commodity in my opinion
www.youtube.com...

a reply to: Krazysh0t

It has in other countries.... long as their is a functioning government the paper will have some value.

God and silver helps for some trading, but it isn't tge end all..You should also have some trade goods, whiskey, med packs you don't need.... Tools...etc.

a reply to: borntowatch

The point is that in economies that have gone bottom up, the paper becomes worthless because of hyperinflation. Those few thousand dollars will mean nothing when the cost of an apple is $1,000,000,000.

A good discussion was recently had on this topic here:

'It's Time To Put Cash Under The Mattress', Say Experts

www.abovetopsecret.com...

a reply to: borntowatch

What is this thing "extra cash" you speak of??

Always good to squirrel a few nuts away if possible. Is it possible to read too much ATS?? I think not.

...and no.

Satans Kingdom is nearly here, hyperinflation soon.

Hmmm, I've always thought if a really bad financial meltdown hit then it wouldn't really matter if your money was in the bank or at home as monetary currency would be rendered useless (hold no practical value). I think silver coins are the best thing to have because they can be easily used for trading and bartering as oppose to a slab of gold that you wouldn't trade for food.


Can anyone recommend to me a good outlet for buying silver coins?


I've done some research in the past, and i read about 'old' silver coins, like the second hand ones, not sure if it is as valuable as the minted ones though.

originally posted by: borntowatch
This Greek debt thing has me thinking
I am tempted to head off to my bank and withdraw some extra cash, could this start a global run like a domino effect

I live in Australia so shouldnt be affected by the Greek collapse but i am thinking do i squirrel a few nuts away

Do I read too much ATS and too much steve quayle, or is being cautious wise.


Anyone else considered taking extra money from their banks, just in case

Doesnt matter how much you store away.... Remember Germany and their 100.000dmark notes back during the inflation.

If things go superbad again, everything will be so rediculously expensive that it wont match the money you kept hidden.